Germany to urgently provide €45 million to Ukraine for energy restoration after Russian missile attacks

Photo: Germany to Urgently Provide €45 Million to Ukraine for Energy Restoration After Russian Missile Attacks. Source: freepik

Germany will provide Ukraine with a €45 million grant to help restore Ukraine’s energy sector as soon as possible after Russian missile attacks. 

This was reported by the Ministry of Energy of Ukraine.

The relevant grant agreement was signed at the Ministry of Energy of Ukraine during a meeting between the Minister of Energy of Ukraine Herman Galushchenko and the Federal Minister for Economic Cooperation and Development of Germany Svenja Schulze.

The document was signed by Volodymyr Kudrytskyi, CEO of NPC Ukrenergo, and the management of the German Development Bank KfW to finance the project “Improving the efficiency of electricity transmission”.

According to Halushchenko, it is very important for Kyiv that the funds can be used in various areas to restore and strengthen the resilience of transmission system facilities under Russian attack.

In addition, the money will be used to purchase equipment for energy-efficient modernisation, automation and reconstruction of Ukrenergo’s substations.

In total, during the Russian military aggression, NPC Ukrenergo has attracted more than EUR 177 million in loans and grants to restore and develop the electricity transmission network with the support of the German Development Bank KfW.  In her turn, Schulze stressed that Berlin is ready to continue supporting Kyiv in countering Moscow’s aggression and pointed out that Russia should not achieve its goal, in particular due to the support of Ukraine by its partners.